Singapore Business News
Singapore Company Formation
Singapore is a wonderful country for holiday and also a great place for business ventures and investments and thus been achieving top place in terms of their pro-business environments.
Compared to other countries, it is rather easier and quicker to set up a Singapore company that the process can actually take only one to two days to complete given all the proper requirements are completed and the application is duly submitted.
And with a more efficient registration process, the city-state has become one of the most attractive and sought after business centers in the Asia Pacific region.
There There are a few types of Business entity that can be set up namely Limited Partnership, Limited Liability Partnership, Sole Proprietor and the most favourite will be the Private Limited Company.
Some of the Features for Private Limited Companies are as below:
The concept of authorized capital has been abolished and no longer applies for companies incorporated in Singapore.
The minimum amount of paid-up capital to open a Singapore company is $1, further increase of paid up capital is possible
With recent changes to Singapore Companies Act, a Singapore company can be incorporatedwith a single director. However note that at least of of the directors must be a local resident director.
The current corporate tax rate in Singapore is 17%. However full and partial tax exemptions are available for the first S$300,000 taxable income.